investors holding a note secured by a assisted living facility will require an interest rate of 9 - 14% depending on desirability of property and strength of operator/borrower.  

This can spread investor risk across many assets, states, and borrower profiles, but some investors find it harder to underwrite since you don't truly know what the fund manager is going to buy.

But, what about all the deductions like depreciation borrowers say? 

Borrowing from yourself is definitely cheaper than giving 15% to the government.

For DSCR we only require LLC docs if in an LLC , drivers license, SS Card if available if not ss89 can be signed, we don't ask for any info on any other properties owned by the borrower, we dont source or require seasoning on funds.

Are you buying the home from the borrower?

Talk to a bank and see how much money you can borrow.

so are you the borrower, and are you trying to negotiate with the lender? 

Hi Ryan, How much would you need to borrow on the construction?

@Christopher Phillips   maybe i'm reading this wrong, or it works differently in NY, but a 6% seller concession normally means the seller is giving the buyer 6% of the purchase price to use however they want in the transaction - be that for closing costs or principal reduction or down payment, whatevs.A seller typically doesn't have a say of what can and can't be included in the borrowed amount, that's up to the lender and the loan program.